The life expectancy in South Korea is growing, but the country appears to be ill-prepared for life after retirement.
According to the Organization for Economic Cooperation and Development (OECD) on Monday, the life expectancy for South Koreans stood at 81.3 years as of 2012, ranking 13th out of the 32 OECD member countries.
While South Koreans’ life expectancy rose sharply from 79.1 years in 2006, the ratio of South Korea’s gross domestic product to pension fund investment stood at a mere 4 percent in 2010, placing the nation in the lower ranks of the OECD.
As they lack preparations for their years later in life, many South Koreans continue to work after their retirement.
The survey found the effective retirement age for South Koreans was 71.1 years for men and 69.8 years for women, making them the second longest working seniors in the OECD.
Japan had the longest life expectancy at 83.2 years.
Mexico ranked first in life expectancy for men at 72.3 years.
Source: Busan eFM News
The Latest Haps
The country’s top court has sentenced a South Korean man to 12 years in prison for attempting to murder the U.S. ambassador to South Korea Mark Lippert.
The Kim Young-ran anti-graft law is taking in effect starting today. The law aims to prevent government employees and various officials from receiving bribes.
Busan Subway Lines 1, 2 and 3 have begun emergency services today due to a general strike of the Busan Metro Labor Union.
The city of Busan is looking for public input as they plan to change the look of the city’s buses for the first time in 16 years.
Schedules are up, books are printed and available, and tickets go on sale this Thursday at 2 p.m. It’s time to pull out the scratch pad and start planning your week.
Miles Teller and Aaron Eckhart have been confirmed as guests for the 21st Busan International Film Festival.
The Busan One Asia Festival is offering free admissions to Taste Busan and the Korean Wave Star & Beauty Collection for foreign guests at BEXCO.
Cancer remained the leading cause of death in South Korea in 2015, with fatalities from pneumonia rising sharply amid a rapidly aging population, government data showed Tuesday.
The Busan International Food Expo 2016 will be held in BEXCO from October 6th to the 9th.
Pei Wei Asian Diner is set to open a location in Busan by the end of 2017 according to a company press release.
A new survey by MasterCard shows that Seoul is once again the 10th most popular city for travel in the world.
Busan’s neighbor to the north has a lot going for it for a fun weekend that’s not so far from home.
While many head to Thailand in search of its magnificent culture, Chiang Mai is a great place to start and one of her best offerings are her awesome temples, known as “Wats”.
North Korea’s goalkeeper gives up one of the worst goals ever — to the opponent’s goalkeeper in an AFC U-16 championship match.
A 29-year-old woman was seriously injured this month when a bungee jump operator failed to secure her rope to the safety hook.
Suyeong-gu Office runs the Stand Up Paddle Board Academy at Gwangalli Beach in September and October.